One of San Marino’s legal system strengths is the creation of specific compliance and supervision with regards to a crucial point for all legal planning schemes for families: the Trustee Company.
San Marino provides a complete procedural guideline for Trustee Companies that professionally practice this business, based on an official authorisation granted by the Central Bank of the Republic of San Marino after verifying the legal requirements PDF1 PDF2

 

San Marino Trustee Companies are therefore subjected to the local authorities control and in particular to the Financial Unit Intelligence Supervision, specifically created to carry out the anti-money laundering activity, San Marino having adopted the all European rules in this field. San Marino is not a member of the Organisation for Economic Cooperation and Development (OECD), nevertheless, it is part of the Global Forum on transparency and international exchange of information for tax purposes (GLOBAL FORUM) (OECD) founded in 2000, as well as 158 jurisdictions including all countries that are members of OSCE, G20 and the European Union.

 

Crossbow Trustee Spa which, of course, is duly authorised to operate as Trustee in San Marino, offers its customers a “tailor-made” service: every situation is evaluated by a professional team providing expertise and a multidisciplinary approach to interact with the client’s consultants located in his national reference jurisdiction or otherwise in a country involved by a specific transaction.

San Marino Trustee Companies can also operate using Trust laws other than the local San Marino law (for example, to restructure existing international trusts).
When San Marino Trustee Companies operate on trusts with another jurisdiction law, the Hague Convention of 1st July 1985 will apply on applicable trust laws and on its legal recognition (art.n.4 of Trust Law of 2010) the Republic of San Marino Republic, being part of the above mentioned Convention.

 

Crossbow Trustee S.p.A, authorised to carry out Professional Trustee activity in 2019, also performs the function of Resident Agent. This figure was conceived by San Marino law as a “link” between the Trustees and the foreign professionals who establish and manage Trusts operating in other jurisdictions and local institutions, primarily the Central Bank which manages the Trust Register. 

Our company has consolidated the procedure for registering Trusts with the competent authorities and administrations. Therefore, quickly proceeding to draft and take care of the deposit of the “Certificate of Trust”, a document to be returned in authentic form to the Central Bank of the Republic of San Marino containing the essential data of the Trust deed.

Crossbow Trustee S.p.A. also offers its experience and expertise to evaluate with clients’ professionals the opportunity to review the structure of an existing Trust in view of a change of applicable law. The choice of San Marino legislation can represent an opportunity to review many dispositions of the original founding act, which could be better formulated and made more specific also thanks to the high customisation guaranteed by San Marino Law.